Indicators: UltraFatl
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UltraFatl:
This indicator is based on Fatl indicator values and analysis of its signal lines.
The calculation of current trend direction is based on the averaged trend values for all signal lines. Finally, the positive and negative values of the trends are averaged and used as indicator lines, shown as a color histogram, plotted using the DRAW_COLOR_HISTOGRAM2 drawing style. Historgram color depends on trend direction, the histogram width depends on strength of the trend.
For each trend direction 4 colors are used in the histogram. For indicator values outside the overbought and oversold levels the dark colors are used. For the overbought/oversold values the light colors are used.
Author: Nikolay Kositsin